The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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March 21, 2020

Comments

Thomas Dresch

I agree with your analysis that we are entering into what might be a prolonged contraction period, hopefully not but it sure is looking that way. Especially based on the market indicators and extreme shutdowns of businesses that are being enacted. I believe that the major increases in government spending have helped artificially inflate the economy and have essentially stacked elephants on toothpicks. In short, we are long overdue for a bear market conditions based on previous cycles of expansions and contractions. The virus may not have been the cause, but certainly a catalyst. It just came at a very inopportune time and is a very convenient thing to pass the blame on to.

Dennis Elam

Thomas
Excellent analysis, the virus is indeed a convenient hook to hang all this on. Valuations so called tech enterprises like Facebook have soared, but really ,what does FB add to an economy? Andy Kessler calls govt stimulus in his column today monday 3/23,cracker jack economics, sending a check to all made out of money Congress does not have to spend simply robs the private sector. The only real solution here is to get people back to work.

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